Elon Musk on track to become world's first trillionaire by 2027

Elon Musk is on track to become the world’s first trillionaire by the year 2027, according to a new report.

Musk is known for being one of the wealthiest people on the planet, owning companies such as Tesla and X/Twitter. According to a new report into global wealth, he is going to get even richer.

The report, titled 2024 Trillion Dollar Club, was conducted by the Informa Connect Academy, which found that Musk’s wealth has been growing at a rate of 110 per cent per year, on average.

With a current net worth of $251 billion (£191 billion), according to the Bloomberg Billionaires Index, if the average rate of increase continues, billionaire Musk could hit the trillionaire mark within the next three years.

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The report also looked at the market value of individual companies, placing Tesla at $669.3 billion (£509.7 billion). According to the report, Tesla’s growth rate has been extremely high, at 173.3 per cent per year, meaning it could hit a trillion as early as next year.

Two companies that have already hit that landmark are the giant tech companies Microsoft and Apple, with a value of $3.4 trillion (£2.6 trillion) and $3.3 trillion (£2.5 trillion), respectively.

However, not all of Musk’s business ventures are proving successful. Financial reports in January revealed that the value of the social media platform X, formerly Twitter, had decreased by 71.5 per cent since he bought it in October 2022.

Musk’s takeover has coincided with a rise in hate speech and disinformation, leading to the platform being recently banned in Brazil.

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